Reserves and resources are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 Edition (the “JORC Code”), which represents current best practice for reporting reserves and resources. The JORC Code requires the use of reasonable assumptions, including the use of projected long-term commodity prices, in calculating reserve estimates.
Reserves and resources information in the tables below has been prepared by the Group, based on the JORC report compiled by Competent Persons (as defined by JORC). Each Competent Person has had relevant estimation experience and is a member of a recognised professional body whose members are bound by a professional code of ethics. The reserves and resources at 31 December 2013 have been calculated by the Group, based on the JORC report dated 31 December 2012 (the latest JORC report available as at that date), with actual production for the year deducted to arrive at the balances at 31 December 2013.
The reserve figures in the following table represent the Life of Mine reserves on a 100% basis, which extend beyond existing licence periods (including CCoWs for coal operations). Metric units are used throughout. The figures used in the calculations are often more precise than the rounded numbers shown in the tables, hence small differences might result if the calculations are repeated directly using the figures in these tables.
|Mine||ARM plc||Classification||Tonnes||Yield||Marketable tonnes||Quality|
|PT Berau Total||–||–||512||100||512||4,910|
|Mine||%||million tonnes||million tonnes||million tonnes||million tonnes||million tonnes|